Mon, 16 Aug 2021 23:50:50 +0000
Mexico Insurance and the Tourist Visa
I have recently taken several calls related to FMM and Mexican insurance coverage. Which sounds silly because what does immigration have to do with insurance? Immigration is a federal government system that controls who enters and exits their country, whereas insurance is a private financial instrument designed to transfer risk. Where do these two entities and agencies intermingle? Does immigration status introduce more or less risk? Is it a rating factor? Do these questions need to be asked during an insurance application? No – not for Mexico tourist insurance, according to Mapfre, Chubb, and Quálitas.
In some states and countries, the government can require insurance. In fact most states in the United States of America require minimum limits. Even Mexico has a mandatory auto insurance law on the books. The government can do what it wants.
But insurance – not so much. Insurance is highly regulated in the United States. You can expect that anyone who offers you a quote is licensed and, by extension, has technical training on the products they offer and ethics training to ensure the consumer is treated fairly above all else. So, how does a private and licensed insurance organization make immigration requirements to file a claim? Can they take the money, sell the policy without the condition, and deny the claim? But what does immigration have to do with operating a vehicle?
FMM Mexican Insurance Claims
I have confirmed with all three of our current underwriting partners: Qualitas, Chubb, and Mapfre – they would NOT deny a claim solely based on immigration status.
